China's new yuan-denominated loans in Nov reach 564b yuan

BEIJING - New yuan-denominated lending in China in November dropped to 564 billion yuan ($84.8 billion) from 587.7 billion yuan in October, the People's Bank of China (PBOC), China's central bank, said Friday.

The new lending brought total lending in the first 11 months to 7.45 trillion yuan - just shy of the government's 7.5-trillion-yuan full-year target.

Outstanding yuan-loans totaled 47.43 trillion yuan at the end of November, 19.8 percent higher than a year earlier. That growth rate was 0.5 percentage points higher than that in the year to the end of October.

China's broad money supply (M2), which covers cash in circulation and all deposits, had increased 19.5 percent year-on-year to 71.03 trillion yuan at the end of November while the narrow measure of money supply (M1), cash in circulation plus current corporate deposits, climbed 22.1 percent from a year earlier to 25.94 trillion yuan.